Bhel, Rallis India: Missed buying these stocks earlier? Here's your chance

The recent correction in the mid-, small-cap stocks provides a good entry point in these counters, technical charts suggest. Buy now for the long term.

Bank of India (BANKINDIA)
Likely target: Rs 75         
Upside potential:  12%

Although, the counter failed to conquer the 200-weekly moving average (WMA) currently placed at Rs 81.40 levels, it has not lost the medium-term bullish outlook yet, as per the daily chart. Since late 2020, Bank of India stock has traded firmly above 200-days moving average (DMA) placed at Rs 64 levels. As per the chart pattern, the stock can see a reversal going ahead, which could see the counter hit Rs 75, which also is its 50-DMA. CLICK HERE FOR THE CHART

V-Guard Industries Ltd (VGUARD)
Likely target: Rs 246 and Rs 258

Upside potential:  5% to 10%

There is a “Golden Cross” formation on the weekly chart of V-Guard Industries, which indicates a breakout at Rs 270 levels.  Although, the current price has broken 50-DMA and 100-DMA, the stock still has a support of Rs 225, which also is its 200-DMA. It has held this support on year-to-date (YTD) basis. The counter faces resistance at Rs 246 and Rs 258, which also are its 50-DMA and 100-DMA levels. CLICK HERE FOR THE CHART

Bharat Heavy Electricals Ltd (BHEL)
Likely target: Rs 65
Upside potential:  22%

After crossing the 200-WMA at Rs 60 mark after 5 years, the counter is retesting its earlier support levels (50-WMA and 100-WMA) placed at Rs 46.50 and Rs 42.30 levels, respectively. The overall medium-to-long term outlook suggests a rally towards Rs 100. The immediate trend reversal could see Rs 65 levels soon, as per the weekly charts. CLICK HERE FOR THE CHART

India Cements Ltd (INDIACEM):
Likely target: Rs 190 and Rs 200
Upside potential:  8% to 13%

India Cement broke out of a consolidation phase May 2021. This up move indicates a possible rally towards Rs 230 levels on a medium-term scale. Currently, the stock is hovering around the 100-DMA mark at Rs 181.70 levels. The support comes in at 200-DMA, which is placed at Rs 168. The medium-term outlook is bullish, and the stock shoud hold its 200-DMA. A positive reversal may see sharp rally towards Rs 190 and then Rs 200 levels, as per the daily charts.  CLICK HERE FOR THE CHART

Rallis India Limited (RALLIS)
Likely target: Rs 325
Upside potential:  9%

A Golden Cross breakout on the daily chart signals positive sentiment for coming months, with the stock witnessing buying momentum. It has closing basis support at 200-DMA, currently placed at Rs 287 mark. There can be a minor selling pressure around Rs 325, which is its 50-DMA. The daily chart resembles a formation of “Head and Shoulder". That said as long as the 200-DMA is supported on a closing basis, the upside bias will remain intact. CLICK HERE FOR THE CHART
 
Sunteck Realty Limited (SUNTECK)
Likely target: Rs 410

Upside potential:  10%

A breakout above RS 390 levels has taken the stock towards Rs 414.95, which is its new 52-week high. There was some profit booking at those levels and consequently the stock retested its moving averages support. However, the 'Golden Cross' breakout at Rs 390 indicates an upside towards Rs 430 and then Rs 450 levels from a medium-term perspective. If the stock manages to hold the closing basis support of Rs 340, the positive sentiment can drive it higher towards the Rs 410 mark. CLICK HERE FOR THE CHART